HSBC Bank acquires Cambridge Water

RNS Number : 8740L

HSBC Holdings PLC

05 August 2011

 



5 August 2011

HSBC BANK PLC ACQUIRES CAMBRIDGE WATER PLC

HSBC Bank plc ('HSBC'), a wholly owned subsidiary of HSBC Holdings plc, has acquired Cambridge Water PLC ('Cambridge Water') from CKI UK Water Limited, an indirect wholly-owned subsidiary of Cheung Kong Infrastructure Holdings Limited ('CKI'), for a total consideration of £74.8m (approximately HK$958.9m).

HSBC acquired Cambridge Water to facilitate CKI's participation in a consortium offer to acquire Northumbrian Water PLC. CKI disposed of its interest in Cambridge Water due to the prohibition under applicable regulation on ownership of a significant interest in more than one regulated water utility in the United Kingdom.

Media enquiries to Robert Baker on [phone] or at [e-mail]

Note to editors:

1. CKI UK Water Limited

CKI UK Water Limited is a private company limited by shares and incorporated in the United Kingdom. It is an indirect wholly-owned subsidiary of Cheung Kong Infrastructure Holdings Limited.

2. Cheung Kong Infrastructure Holdings Limited

Cheung Kong Infrastructure Holdings Limited is a company incorporated in Bermuda with limited liability, the shares of which are listed on the Main Board of the Hong Kong Stock Exchange (stock code: 1038).

3. The HSBC Group

HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from around 7,500 offices in 87 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. With assets of US$2,691bn at 30 June 2011, HSBC is one of the world's largest banking and financial services organisations. HSBC is marketed worldwide as 'the world's local bank'.

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